2005 News Story

Saudi Development Fund finances exports to UAE, Lebanon

Minister of Finance Dr. Ibrahim Al-Assaf chaired today a meeting of the board of directors of the Saudi Development Fund.  During the meeting, the board approved providing credit facilities to help finance a number of exports totaling SR 461,250,000 [U.S. $125 million]. Under the arrangement, oil products, goods and services will be exported to both the United Arab Emirates and Lebanon.